Insurance and financial services in Tanzania, United Republic of
Tanzania, United Republic of: Insurance and financial services was 0.9% in 2024. ◆ Volatile
Insurance and financial services in Tanzania, United Republic of, 1976–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
The most recent figure for insurance and financial services in Tanzania, United Republic of is 0.9%, measured in 2024.
That represents a change of up 4.7% on the previous year and down 47.1% over ten years.
Over the whole period, insurance and financial services in Tanzania, United Republic of peaked at 4.1% in 1998 and was at its lowest, 0.0%, in 1995.
That places Tanzania, United Republic of 145th out of 190 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Tanzania, United Republic of, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1976 | 3.5% | — |
| 1977 | 2.6% | -24.6% |
| 1978 | 1.4% | -45.6% |
| 1979 | 1.2% | -18.5% |
| 1980 | 1.5% | +29.1% |
| 1981 | 0.8% | -46.5% |
| 1982 | 1.3% | +59.1% |
| 1983 | 1.6% | +24.4% |
| 1984 | 0.2% | -86.5% |
| 1985 | 0.1% | -54.9% |
| 1986 | 0.2% | +105.4% |
| 1987 | 0.1% | -67.6% |
| 1988 | 0.6% | +883.3% |
| 1989 | 0.5% | -18.1% |
| 1990 | 0.5% | -0.3% |
| 1993 | 0.2% | -57.7% |
| 1994 | 0.2% | -13.8% |
| 1995 | 0.0% | -95.3% |
| 1996 | 3.1% | +34728.5% |
| 1997 | 2.9% | -6.0% |
| 1998 | 4.1% | +40.2% |
| 1999 | 1.9% | -54.5% |
| 2000 | 3.0% | +58.9% |
| 2001 | 2.3% | -23.2% |
| 2002 | 2.7% | +20.5% |
| 2003 | 2.7% | -2.8% |
| 2004 | 2.6% | -2.1% |
| 2005 | 3.3% | +26.3% |
| 2006 | 1.1% | -67.5% |
| 2007 | 1.5% | +40.1% |
| 2008 | 1.2% | -16.9% |
| 2009 | 1.2% | -4.2% |
| 2010 | 1.8% | +55.0% |
| 2011 | 1.5% | -18.7% |
| 2012 | 1.8% | +19.7% |
| 2013 | 2.0% | +14.2% |
| 2014 | 1.8% | -13.3% |
| 2015 | 1.8% | -0.9% |
| 2016 | 1.8% | +4.7% |
| 2017 | 1.7% | -9.4% |
| 2018 | 1.3% | -24.7% |
| 2019 | 1.4% | +15.3% |
| 2020 | 1.4% | -0.9% |
| 2021 | 0.4% | -71.5% |
| 2022 | 0.3% | -16.8% |
| 2023 | 0.9% | +163.1% |
| 2024 | 0.9% | +4.7% |
Tanzania, United Republic of compared with similar countries
- Tanzania, United Republic of's 0.9% is below the median for lower middle income countries, which is 1.8%, 54% of the median. (46 countries reporting)
- Tanzania, United Republic of's 0.9% is below the median for Sub-Saharan Africa, which is 3.3%, 28% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Tanzania, United Republic of changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1996 | +34728.5% | 0.0% | 3.1% |
| 1988 | +883.3% | 0.1% | 0.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.2% | 1.2% | 3.5% | 4 |
| 1980s | 0.7% | 0.1% | 1.6% | 10 |
| 1990s | 1.6% | 0.0% | 4.1% | 8 |
| 2000s | 2.1% | 1.1% | 3.3% | 10 |
| 2010s | 1.7% | 1.3% | 2.0% | 10 |
| 2020s | 0.8% | 0.3% | 1.4% | 5 |
Countries ranked near Tanzania, United Republic of
- 142 Philippines 1.1% compare
- 143 French Polynesia 1.0% compare
- 144 Belarus 1.0% compare
- 146 Solomon Islands 0.9% compare
- 147 Nicaragua 0.9% compare
- 148 Nepal 0.9% compare
More private sector data for Tanzania, United Republic of
- Merchandise trade 27.5% (2025)
- Food imports 9.2% (2024)
- Manufactures imports 68.3% (2024)
- Merchandise imports 14.81 billion current US$ (2025)
- Food exports 37.4% (2024)
- Manufactures exports 10.8% (2024)
- Merchandise exports 9.96 billion current US$ (2025)
- Merchandise exports (current US$), per capita 141.13 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1104 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 14.41 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Tanzania, United Republic of?
- Insurance and financial services in Tanzania, United Republic of was 0.9% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Tanzania, United Republic of?
- The highest recorded value was 4.1% in 1998.
- What is the lowest insurance and financial services recorded in Tanzania, United Republic of?
- The lowest recorded value was 0.0% in 1995.
- How does Tanzania, United Republic of rank for insurance and financial services?
- Tanzania, United Republic of ranks 145th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Tanzania, United Republic of?
- Over the last ten years it is down 47.1%. The long-run trend across the full record is volatile.
- Where does this Tanzania, United Republic of data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service exports). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 47 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.